Published by Coherent Market Insights
Posted on September 21, 2021
3 min readLast updated: February 3, 2026
The global PLM market is set to grow to $111.99 Bn by 2027, driven by AI/ML innovations and significant M&A activities.
United States/WA: The global product lifecycle management market was valued at US$ 61.31 Bn in 2019 and is estimated to reach US$ 111.99 Bn by 2027 exhibiting a CAGR of 8.1% between 2020 and 2027.
Report Pages:[130 Pages]
The Competitive Area of the Product Lifecycle Management Market is Defined by Key Players Like:–Dassault Systems, Hewlett-Packard Company, PTC, Inc., Atos SE, Siemens AG, Accenture plc, Autodesk, Inc., IBM Corporation, SAP SE, and Aras Corporation.
Product Lifecycle Management (PLM) is an approach that helps to improve product or service life cycle. In a nutshell, it is the process of identifying, analyzing and developing strategies for prolonging the life cycle of a product or service. The entire life cycle involves product conception, design, production, packaging, marketing, after-sales service and customer returns. With the advent of contemporary technology, increased competition and rapid changes in consumer requirements, there has been a need to implement new approaches in PLM that are effective, timely and cost-effective. A thorough understanding of the lifecycle needs of customers and their business requirements are the basic foundation of PLM development.
Market Dynamics
Increasing adoption of PLM is expected to propel growth of the global product lifecycle management market. For instance, in January 2021, T2T Solutions, a sustainable fashion provider, announced investment in a new Product Lifecycle Management solution for better control and visibility, and efficiency. Similarly, Erdos Group, a producer of cashmere, selected Centric Fashion PLM to establish a product-centred digital R&D collaboration platform and a unified digital asset management system.
Moreover, launch of AI/ML PLM platforms is also expected to aid in growth of the market. For instance, in January 2021, HealthWorksAI, a healthcare analytics organization, released ProductIntel, an AI/ML platform for Medicare advantage bid design and product lifecycle management.
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The global product lifecycle management market is witnessing several M&A activities. For instance, in November 2020, Aptean, a provider of mission-critical enterprise software solutions, signed a definitive agreement to acquire Lascom, a provider of product lifecycle management (PLM) solutions for the manufacturing sector.
Among regions, Europe is expected to witness significant growth in the global product lifecycle management market, owing to increasing adoption of PLM in the region. For instance, in December 2020, Haglöfs, a Sweden-based manufacturer of outdoor clothing, footwear and hardware selected Centric Software’s Product Lifecycle Management (PLM) solution.
Competitive Analysis
Major players operating in the global product lifecycle management market include, Dassault Systems, Hewlett-Packard Company, Centric Software, PTC, Inc., Atos SE, Siemens AG, Accenture plc, Autodesk, Inc., IBM Corporation, SAP SE, and Aras Corporation.
Major players operating in the global product lifecycle management market are focused on launching new products to expand their product portfolio. For instance, in December 2020, Centric Software launched its flagship Product Lifecycle Management (PLM) solution, Centric 8 PLM version 7.2.
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The post [PDF] Product Lifecycle Management Market Get A Huge Opportunities in New Era appeared first on Gatorledger.
The article discusses the growth and opportunities in the Product Lifecycle Management market.
Key players include Dassault Systems, Siemens AG, and IBM Corporation.
AI and ML platforms are significantly impacting the PLM market, driving efficiency and innovation.
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